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Another drilling company, Geodrill (OTCMKTS: GDLLF), released very good 3Q 2017 figures. To remind my readers, Geodrill is a mineral drilling company operating in Western Africa only (Ghana, Burkina Faso etc.).
In 3Q 2017 the company, similarly to Orbit Garant, reported the highest drilling prices in its history:
Source: Simple Digressions
As the middle panel of the chart below shows, direct costs of drilling also went up significantly (due to higher salaries) but…it did not matter. Much better pricing covered higher costs and a gross margin (defined as revenue less direct costs) was one of the highest in history as well:
Source: Simple Digressions
Summarizing – another drilling company gives an evidence that the mineral sector (particularly its precious metals segment) does quite well now.
